Analysts on average had expected a profit of 3.02 billion rupees, according to Refinitiv IBES estimates.

Sales of goods at Britannia, which makes biscuits such as “Good Day” and “Milk Bikis”, rose 12.5 percent to 28.55 billion rupees.

Shares of the company recovered from early falls to rise as much as 1.3 percent after the results were announced, while the NSE index was 0.9 percent lower. ($1 = 72.9500 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)